SYDNEY: Australian business investment fell unexpectedly in the first quarter as floods and bottlenecks hit building work, though firms sharply lifted plans for spending in the year ahead in a boost to the economic outlook.
Data from the Australian Bureau of Statistics out on Thursday showed private capital spending dipped a real 0.9% in the March quarter, from the previous quarter, missing forecasts of a 1.5% increase.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!